IGO Limited (OTCMKTS:IPGDF) Sees Significant Decline in Short Interest

IGO Limited (OTCMKTS:IPGDF) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 127,695 shares, a decline of 57.9% from the January 15th total of 303,202 shares. Based on an average trading volume of 1,390 shares, the days-to-cover ratio is presently 91.9 days. Based on an average trading volume of 1,390 shares, the days-to-cover ratio is presently 91.9 days.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada cut IGO to a “sector perform” rating in a research note on Wednesday, December 10th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

IGO Stock Performance

Shares of OTCMKTS:IPGDF remained flat at $5.84 during trading on Thursday. IGO has a 52 week low of $2.12 and a 52 week high of $6.36. The business has a 50-day moving average of $5.50 and a 200-day moving average of $4.24.

IGO Company Profile

IGO Limited, trading as IPGDF on the OTC Markets, is an Australian-based diversified mining and metals company with a strategic focus on battery-cycle commodities and precious metals. Originally founded as Independence Group NL in 1997, the company rebranded to IGO Limited in 2018 to reflect its evolving portfolio. IGO’s operations span the extraction, processing and marketing of key industrial minerals and metals that underpin the global energy transition.

The company’s core asset portfolio includes the Nova nickel–copper–cobalt operation in Western Australia, which produces mixed sulphide concentrate; a 50% interest in the Tropicana gold joint venture; and the Kwinana Nickel Refinery, which refines concentrate into battery-grade nickel products.